NEW YORK and SAN DIEGO, Oct. 23, 2015 (GLOBE NEWSWIRE) -- Wolf Haldenstein Adler Freeman & Herz LLP announces that a class action lawsuit has been commenced in the United States District Court for the Southern District of California on behalf of purchasers of BofI Holding, Inc. (“BofI” or the “Company”) (Nasdaq:BOFI) between September 4, 2013 through October 13, 2015 inclusive (the “Class Period”). Shareholders of BofI Holding, Inc. who incurred losses on shares purchased within the Class Period are urged to contact the firm immediately at firstname.lastname@example.org or (800) 575-0735 or (212) 545-4774.
If you purchased the shares of BofI Holding, Inc. during the period September 4, 2013 through October 13, 2015, inclusive, you may, no later than December 14, 2015, request that the Court appoint you lead plaintiff of the proposed class.
The complaint filed in the action alleges that throughout the Class Period, defendants made failed to disclose that: (i) the Company’s internal controls were frequently disregarded; (ii) Bank of Internet made loans to foreign nationals and criminals in violation of the Bank Secrecy Act’s Money Laundering Rules; (iii) many Bank of Internet accounts lacked required tax identification numbers; (iv) Bank of Internet fired an internal auditor who raised the foregoing issues and other potential wrongful conduct at BofI to the Company’s management and to federal regulators; and (v) as a result of the above, the Company’s statements regarding its internal controls and other financial statements were materially false and misleading at all relevant times.
On October 13, 2015, after the market closed, The New York Times reported that a former internal auditor at BofI had filed a whistleblower lawsuit against BofI for violating federal laws designed to protect whistleblowers and alleging widespread misconduct at the Company. On this news, the price of BofI shares fell $42.87 per share, or 30.19% from its closing price of $142.00 on October 13, 2015, to close at $99.13 per share on October 14, 2015, on unusually heavy trading volume.
Wolf Haldenstein has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.
If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein Adler Freeman & Herz LLP by telephone at (800) 575-0735, via e-mail at email@example.com, or visit our website at www.whafh.com. All e-mail correspondence should make reference to the “BofI Investigation.”
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Contact: Wolf Haldenstein Adler Freeman & Herz LLP Patrick Donovan, Esq. Gregory Stone, Director of Case and Financial Analysis Email: firstname.lastname@example.org, email@example.com or firstname.lastname@example.org Tel: (800) 575-0735 or (212) 545-4774
Source:Wolf Haldenstein Adler Freeman & Herz LLP